Kerjaya Prospek, Majestic Gen in RM162m Johor deal
KUALA LUMPUR: Construction company Kerjaya Prospek Group Bhd's wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award from Majestic Gen Sdn Bhd for a building contract worth RM162 million in Johor Bahru.
The contract entails main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development near the customs, immigration and quarantine (CIQ) and Bukit Chagar Rapid Transit System (RTS).
The project comprises a single block with 732 units, nine levels of podium parking, and other supporting facilities.
Construction, scheduled to commence on Aug 1, is expected to be completed within 36 months.
Kerjaya Prospek CEO and executive director Tee Eng Tiong said the construction of Majestic Gen's is the company's maiden project in Johor and its first contract win in the state for 2025.
'Geographically, our focus remains on three growth regions namely Klang Valley, Penang and Johor, where we see strong demand and vibrant development activities continue to shape the future of urban living.
'With this latest RM162 million job, our year-to-date new contract wins have reached RM870.3 million, placing us well on track to achieve our RM1.6 billion target for the year,' he said in a statement.
Tee said the total outstanding order book now stands at RM4.6 billion, providing healthy earnings visibility and a solid foundation for continued growth over the next four financial years.
Majestic Gen CEO Datuk Hoo Kim See said the company had appointed Kerjaya Prospek, a reputable construction firm, to build Gen Rise – its first project in Johor.
'This is a truly momentous occasion for both companies as we aim to deliver quality and sustainable products to our esteemed buyers.
'We hope that this collaboration will further boost the market's confidence in our current and future developments with an estimated GDV of RM3.7 billion,' he said.
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